Baht weakens most since January after Fed signals rate increase | Bangkok Post: business

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Baht weakens most since January

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Thailand's baht fell the most since January and bonds dropped on Federal Reserve Chair Janet Yellen's comment that interest rates could be raised "around six months" after the central bank ends its stimulus program. 

The Thai currency weakens the most since January after the Fed signals rate increase. (Reuters Photo)

The Fed announced another US$10 billion reduction of its monthly bond buying on Wednesday to $55 billion and said the purchases could end this fall. The Bank of Thailand reduced its key rate on March 12 to 2% from 2.25%after prolonged political unrest curbed local demand and hurt tourism. The Southeast Asian nation has room to ease policy further and whether the Bank of Thailand will cut or not depends on economic data, spokeswoman Roong Mallikamas said March 14.

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